Small Cap Core Fund - SBHCX

Investment Objective

The Segall Bryant & Hamill Small Cap Core Fund (the "Fund") seeks to achieve capital appreciation.

Performance

Previous Quarter Ending: 06/30/2020
Fund Name %3 Mo6 MoCYTD1 Yr3 Yr5 Yr10 YrSince Inception*
Small Cap Core Fund 23.88 -5.60 -5.60 1.32 6.99 6.36 10.50 8.00
Russell 2000 Index 25.42 -12.98 -12.98 -6.63 2.01 4.29 10.50 7.37
Performance as of: 08/31/2020
Fund Name %1 Mo3 Mo6 MoCYTD1 Yr3 Yr5 Yr10 YrSince Inception*
Small Cap Core Fund 2.84 8.09 12.78 1.50 10.75 9.95 9.62 11.37 8.38
Russell 2000 Index 5.63 12.40 6.57 -5.53 6.02 5.03 7.65 11.53 7.82
Performance as of: 09/17/2020
Fund NameNAV $NAV Change%YTD Return%
Small Cap Core Fund 9.91 -0.30 -0.90

* Since Inception Date: 12/31/2019

Retail Class Annual Expense Ratio -- Gross 1.41%, Net: 1.14%

Performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance quoted. To obtain current performance as of the most recent month-end, please call (800) 392-2673. Average annual total returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements. If imposed, the fee would reduce the performance quoted. Investment return and principal value will vary, and shares, when redeemed, may be worth more or less than their original cost.

For periods prior to December 31, 2019, the performance shown above is for the Lower Wacker Small Cap Investment Fund, LLC, an unregistered limited partnership managed by the portfolio managers of the Segall Bryant & Hamill Small Cap Core Fund (the “Predecessor Fund”). The Predecessor Fund was reorganized into the Institutional Class shares on January 2, 2020, the date that the Segall Bryant & Hamill Small Cap Core Fund Institutional Class commenced operations. The Segall Bryant & Hamill Small Cap Core Fund has been managed in the same style and by the same portfolio managers since the Predecessor Fund’s inception on January 1, 2004. The Segall Bryant & Hamill Small Cap Core Fund's investment goals, policies, guidelines and restrictions are, in all material respects, equivalent to the Predecessor Fund’s investment goals, policies, guidelines and restrictions. The Predecessor Fund’s annual returns and long-term performance reflect the actual fees and expenses that were charged when the Segall Bryant & Hamill Small Cap Core Fund was a limited partnership. The Predecessor Fund’s performance is net of management fees and other expenses. From its inception on January 1, 2004 through December 31, 2019, the Predecessor Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the Investment Company Act of 1940, as amended (the “1940 Act”) or Subchapter M of the Internal Revenue Code of 1986, as amended, which, if they had been applicable, might have adversely affected the Segall Bryant & Hamill Small Cap Core Fund's performance.

The performance figures for Retail Class include the performance for Institutional Class for the periods prior to December 31, 2019 and are adjusted for the difference in Retail Class and Institutional Class expenses. Retail Class imposes higher expenses than Institutional Class.

The Predecessor Fund’s past performance shown above is not necessarily an indication of how the Segall Bryant & Hamill Small Cap Core Fund will perform in the future.

The Adviser has contractually agreed until at least April 30, 2021, to waive the investment advisory and/or administration fees and/or to reimburse other expenses (not including acquired fund fees and expenses, taxes, brokerage expenses, and extraordinary expenses), so that the ratio of expenses of average net assets as reported in the Fund’s Financial Highlights will be no more than 1.14% and 0.99% to the Fund’s Retail Class and Institutional Class, respectively, for such period. This agreement may not be terminated or modified by the Adviser prior to the termination date without the approval of the Board of Trustees.

Investment Team

Jeffrey C. Paulis, CFA

Principal, Senior Portfolio Manager

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Mark T. Dickherber, CFA, CPA

Principal, Director of Small Cap Strategies

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Shaun P. Nicholson

Principal, Senior Portfolio Manager

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Zachary T. Rosenstock, CFA

Senior Equity Analyst

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Eric D. Hines, CFA

Equity Analyst

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